This compound is primarily utilized in the synthesis of organic materials, particularly in the production of specialty polymers and resins. It serves as a key intermediate in the development of UV-curable coatings, which are widely used in the electronics, automotive, and packaging industries due to their fast curing times and durability. Additionally, it plays a role in the manufacture of photoinitiators, which are essential components in photopolymerization processes for creating adhesives, inks, and 3D printing materials. Its structure also makes it suitable for research in medicinal chemistry, where it can be modified to explore potential bioactive molecules.